British Prime Minister Liz Truss has parted ways with her Treasury chief as she struggles to calm markets and hang on to her job
U.K. Finance Minister Ousted as Liz Truss Plans U-Turn
Kwasi Kwarteng’s departure comes after just over a month in the job — and three weeks after he announced a tax-cutting “mini budget” that sent the pound plunging to record lows against the dollar. Senior members of the Conservative Party were publicly advising the government to take action. The pound rose as much as 1.7% against the dollar on Thursday and bond markets stabilized amid expectations that Truss would revise the economic growth plan.
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